A new Transparency Market Research report states that the global electrodes for medical devices market was pegged at US$633.6 mn in 2012 and is anticipated to reach US$1,451.2 mn by 2019, expanding at a CAGR of 11.70% from 2013 to 2019. The title of the report is “Electrodes for Medical Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.”
The utilization of electrodes in medical devices serves to transfer the ionic current energy into electrical current within the human body. These currents have proven to be very useful in diagnosing and treating a number of diseases and can be amplified as per the need. These electrodes are composed of metals such as silver, nickel, copper, manganese oxide, cadmium, and zinc, among others. Electrodes such as electrocardiography (ECG) electrodes are used for the diagnosis of cardiac disorders. On the other hand, electrosurgical electrodes are utilized in different surgeries and enable accurate incisions involving minimal blood loss.
According to the report, the increasing need for portable medical devices to lower the increasing healthcare and hospital expenses is a key factor stimulating the electrodes for medical devices market. In addition, there is an increasing demand for disposable electrodes owing to the increasing safety and health concerns globally. Furthermore, ablation electrodes are in high demand owing to the increasing requirement for minimally invasive surgical technologies.
On the other hand, the report states that electrical burns caused by overheating and the absence of biocompatibility tests have inhibited the acceptance and utilization of electrodes in medical devices, hence impeding the development of the overall market. In addition, delays in the pre-market approval process owing to the classification of pacemaker electrodes as high-risk devices by the FDA may also pose a negative impact on the growth of the market.
In terms of product type, the market is segmented into ECG, EMG, EEG, fetal scalp electrodes, ERG electrodes, and others. Amongst these, ECG electrodes are poised to lead the market with a CAGR of 3.0% from 2013 to 2019. The ECG electrodes segment will be trailed by the segment of fetal scalp electrodes in the forecast horizon.
The therapeutic electrodes for medical devices market, by product, is segmented into pacemaker electrodes, TENS electrodes, electrosurgical electrodes, defibrillator electrodes, and others. Amongst these, defibrillator electrodes and electrosurgical electrodes are anticipated to register the greatest CAGR from 2013 to 2019. This is owing to ZOLL Medical Corporation’s launch of wearable defibrillators that monitor the wearer’s cardiac rhythms and administer a carefully measured electrical shock to the wearer in case of abnormal cardiac rhythms so as to help regain the normal functioning of the heart.
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Geographically, the report segments the electrodes for medical devices market into North America, Europe, Asia Pacific, and Rest of the World (RoW). Amongst these, in 2012, Europe and North America held the largest share of over 60% in the market owing to the proliferation of cutting-edge medical devices supporting the presence of technologically developed electrodes. Furthermore, the soaring count of cardiac disorders and the rising rate of diagnosis within these two regions will also support the growth of the market here. On the other hand, Asia Pacific is predicted to record the greatest growth rate in the forecast horizon owing to the increasing trend of medical tourism and the soaring count of smokers here.
As per the report, the chief players dominant in the market are 3M Company, CONMED Corporation, and Natus Medical, Inc. among others
Most of the people who are suffering from end-stage renal disease undergo hemodialysis, and is often accompanied by recurrent and troubling side-effects, which are referred to as intra-dialytic hypotension (IDH). IDH has been estimated to affect around 15% to 55% of all patients undergoing hemodialysis. Some of the major symptoms of IDH include nausea, diaphoresis and cramps, to more precarious conditions that include angina pectoris, arrhythmias, seizures, unconsciousness and even cardiac arrests. IDH is mainly caused due to inefficient cardiovascular response to the reduced blood volume, which is bound to occur due to the removal of large volumes of water in a very short span. As a typical hemodialysis procedure involves the removal of an ultrafiltrate volume of water from the patient’s body, which is equal to or even greater than the entire blood plasma of the patient.
The occurrence of IDH would increase further due to ageing population that exhibit greater comorbidities, such as cardiovascular problems and diabetes, thus making IDH a problem that requires extensive rethinking and innovation. Several drug developers and manufacturers are involved in extensive research and development and many of them have a considerable number of drugs in different stages of clinical trials in this field. Some of the important drugs that are in different stages of clinical trials that will soon be commercialized in the global market include, MTR107, Droxidopa, Mannitol, Northera and Norathiol among others.
Some of the major driving factors for the growth of this market include, high number of patients undergoing hemodialysis, aging population, rising demand for advanced therapeutics, high number of drugs in the pipeline and rising awareness and affordability of the people globally. At present, many people are undergoing hemodialysis due to kidney failure or end stage renal diseases, which in turn increase the chances of developing IDH, thus, will contribute towards the growth of this market in future. Also, aged individuals increasingly require hemodialysis, hence are more prone towards IDH, hence will add to this market’s growth in future. Comorbidities such as, diabetes and cardiovascular diseases also increase the chances of developing renal disorders, hence in turn will increase IDH occurrences, hence the demand for advanced therapeutics. Thus, rising awareness and demand along with high number of pipeline drugs that will soon be commercialized in the global market will augment the growth of this market in the near future.
Geographically, North America and Europe are expected to dominate the global intra-dialytic hypotension market. Some of the key factors that are expected to be responsible for their dominance in this market are high number of patients undergoing renal hemodialysis along with the presence of large geriatric population in these regions. Most of the companies that are involved in the research and development activities in this field and have a few drugs in the pipeline also belong to these regions. Thus, it is expected that these regions will largely dominate this market in future. However, Asia Pacific that constitutes some of the fastest emerging economies of the world along with increasing number of patients with renal diseases will help grow this market in this region in future.
Some of the major players having their drugs in different stages of clinical trials in this market include, Advanced Circulatory Systems, Inc., B. Braun Melsungen AG, Chelsea Therapeutics, Inc., Global Monitors, Inc., Medinox, Inc., Meditor Pharmaceuticals Ltd. and Wolfson Medical Center.
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Ever increasing demand for electricity coupled with government policies promoting the use of renewable source of energy can have the positive impact on the global solar energy market. Being abundant in nature the solar energy acts as a long-lasting and clean energy source of energy that can prove an effective alternative to the current non renewable sources such as coal, oil and gas.
Today, the solar energy emitted from the sun can be harnessed using the technologies such as solar photovoltaics, solar heating, solar thermal electricity and artificial photosynthesis. Government support in the form of tax benefits and subsidies can further lead to the growth of the solar energy market in the near future. The growth of the solar industry especially in the developing economies such as China and India has opened new avenues for the solar energy market. Rapid industrialization coupled with lack of fossil fuel reserves (Oil and Gas) in countries such as India and Japan can create a surge in the demand for the solar energy harnessing devices in these countries.
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The solar energy market can be segmented on the basis of technology used for the purpose of capturing and harnessing the solar energy, applications, end user industry and geography. Solar energy can be harnessed using the technologies such as solar photovoltaics, solar heating, solar thermal electricity and artificial photosynthesis. The solar radiations emitted from the sun can be captured by using either active or passive solar technologies. An active solar technology makes the use of solar panels and solar thermal collectors to collect the infra red radiations emitted by the sun. The passive solar technology captures solar radiations by using a material with favorable light dispersing properties. Solar energy harnessed from the sun can be used for the purpose of space heating, water heating, cooking, water treatment and producing electricity. Today the solar energy can be used in the residential, commercial and industrial sectors.
As electricity production is the foremost application of the solar energy therefore, the regional segmentation of the solar energy market can be done by identifying the major countries involved in the production of electricity using the solar energy. Major countries include the United States and Canada in North America; China, India, Taiwan, Japan, Thailand, South Korea and Australia in Asia Pacific; Germany, Spain, Italy, Czech Republic and France in Europe; Rest of the World includes the countries from Middle East and Africa (MEA) and the Latin America.
Rapid industrialization, stringent government regulations towards the use of environment polluting fuels, government incentives in the form of tax benefits and subsidies and effective utilization of barren land for the purpose of installation of utility scale solar power projects are the major driver to the solar energy market. Advancement in the solar cell technologies enabling higher solar to electric conversion efficiencies is another factor that has positively affected the solar energy market. Economic meltdown in the European countries leading to government decisions toward reducing the subsidies is one of the major restraints to the solar energy market. Untapped equatorial regions in Africa and Latin America can act as the opportunities for the new and existing companies in the solar energy market.
Some of the key players in the solar energy market include companies such as Yingli Solar, First Solar, Inc., Suntech Power Holdings Co., Ltd., Trina Solar Limited and Sharp Corporation.
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Nuclear power technology has been adopted as a source of power generation by many industrialized economies. Several developing countries have also developed plans to expand their energy portfolio by adapting nuclear technology for power generation. The components installed in a nuclear power plant are similar to those of a conventional fossil-fueled power plant, except that fission process is used instead of the combustion process. Uranium is the most common material utilized and energy released from uranium in the form of heat and radiation is used to generate electricity in the nuclear power plant. However, after the nuclear accident at the Fukushima power plant there have been many controversial views regarding safe deployment of nuclear power technology. Despite decisions by some countries to phase out nuclear energy, the market for nuclear power is expected to grow at a substantial rate. Many new nuclear reactors are planned, especially in China and Russia.
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The decreasing fossil reserves and the need to reduce import bills are encouraging national governments and energy companies to invest in nuclear power market. The major consuming centers of the world are dependent on imported fuel sources from foreign nations. The urge to reduce this dependency on imports is attracting investment in nuclear power market. Nuclear power plants can be highly efficient when compared to thermal power plants, thus the demand for efficient systems is also attracting investment in this market. Countries such as France produce a major share of their electricity from nuclear power which proves that nuclear power is an economic alternative to conventional power plants. Nuclear technology does not burn fossil fuels and consequently do not liberate polluting gases which makes this technology attractive while fulfilling emission standards in a country. However, nuclear power is still considered a controversial technology for power generation. Many drastic accidents such as the Chernobyl incident in 1986, has led to the death of people working in nuclear facilities. High costs associated with storing and monitoring the radioactive waste material acts as a major restraint for the growth of the market.
The nuclear power market can be segmented based on water reactors utilized in nuclear power generation. The four broad segments are Generation I technology, Generation II technology, Generation III technology and Generation IV technology. These technological segments can be further sub-divided based on water reactor technology. Currently, Generation III technology is the most is the most widely installed technology employed in nuclear power generation. However, Generation IV technology is being developed in several countries which aim to establish sustainable nuclear power growth.
North America is the leading region in the nuclear power market and currently, many large scale plants are installed in the U.S. The stringent environmental regulation in Europe has encouraged many countries to invest in nuclear power market. Countries such as France, Spain and Germany have heavily invested in this technology in the past. Russia plays an important role in further development of nuclear technology. Many new nuclear power reactors are planned and the country is intensively investing in wide spread adoption of this technology. Asia Pacific is the fastest growing market in this segment with China leading the growth in this region. The Chinese government has planned many new nuclear installations to reduce their dependency on imported coal, for power generation. Korea, India and Taiwan are also expected to increase investments in nuclear power generation technology.
Some of the major companies involved in the nuclear power market are Bruce Power, China General Nuclear Power Corporation, CEZ Group, E.ON SE, and Nukem GmbH.
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Oil shale generally refers to any sedimentary rock that contains solid bituminous materials that are released as petroleum-like liquids after heating by chemical process of pyrolysis. Oil shale is formed by deposition of organic debris and silt on lake beds and sea bottoms. Over a long period of time, this material is transformed into sedimentary rock by heat and pressure. Oil shales are rich in oil content and can be burned without any additional processing.
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With depletion in natural resources, the oil shale market is growing in demand due to large availability of deposits in the world, mainly found in America. Increasing oil prices, energy security, and economic benefits are some important factors driving the growth of the oil shale industry.
Earlier, oil shale was used as a fuel and source of oil in smaller quantities; however, currently few countries are employed in the business of producing oil from oil shale at a significant commercial level. However, the process of extracting oil from oil shales is much costlier compared to conventional pumped oil and this is the major challenge faced by the oil shale industry.
Governments of many countries are employing sufficient man power and undertaking research to bring down the overall cost and better the extraction technology.
The oil shale market research report provides complete analysis of this market based on important market segments and major geographies. It is a comprehensive analysis of current market trends, future market projections, industry growth drivers, restraints, and industry structure. Report also includes analysis of technological advancements in industry, Porter’s five force model analysis, and detailed profiles of top market players. It provides review of micro and macro factors significant with respect to existing market players and new entrants with value chain analysis.
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